|
|
ECONOMIES OF SCOPE: A production process in which it is cheaper to produce two (or more) products together rather than separately. This property is also termed joint production. For example the production of beef also results in the production of leather and the production of lumber also results in the production of sawdust. Economies of scope can be beneficial, that is, giving a producer multiple products to sell. But it can also be problematic when one of the joint products is undesirable, such as pollution or waste residual.
Visit the GLOSS*arama
|
|
|
|
|
MARGINAL REVENUE CURVE A curve that graphically represents the relation between the marginal revenue received by a firm for selling its output and the quantity of output sold. A firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve. The marginal revenue curve for a firm with no market control is horizontal. The marginal revenue curve for a firm with market control is negatively sloped and lies below the average revenue curve.
Complete Entry | Visit the WEB*pedia |
|
|
PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for defective microphones.
Your Complete Scope
This isn't me! What am I?
|
|
|
Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
|
|
|
"Even a mistake may turn out to be the one thing necessary to a worthwhile achievement." -- Henry Ford
|
|
NYSE
New York Stock Exchange
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
